Headlines, July 1, 2019

The Korean daily media headlines and humor

Monday July 1, 2019

Round-up of important news from major Korean dailies and from international media today

The Korea Post media (www.koreapost.com) in English, (www.koreapost.co.kr) in Korean.

Trade conflict between S. Korea and Japan

South Korea's trade minister said Monday the government plans to file a complaint with the World Trade Organization (WTO) over Japan's decision to tighten the rules for exports of semiconductor and display materials to Seoul, amid a simmering diplomatic row over wartime force labor. "South Korea has been making efforts to maintain a mutually beneficial relationship with Japan," Industry Minister Sung Yun-mo told reporters, describing the Japanese measure as an "economic retaliation" against South Korea's Supreme Court ruling on compensation for wartime forced labor.

Hyundai Heavy officially starts process to earn regulatory approval on Daewoo takeover

Hyundai Heavy Industries Group, a major South Korean shipbuilding conglomerate, said Monday it has officially started the process to earn approval from anti-trust regulators for its proposed takeover of Daewoo Shipbuilding and Marine Engineering Co. Hyundai Heavy said it has submitted a request for formal approval from South Korea's Fair Trade Commission (FTC) and has decided to make similar requests to antitrust watchdogs in Japan, China, Kazakhstan and the European Union. The shipbuilder said it will submit additional bids to other countries.

In DMZ, Trump, Kim agree to resume nuclear talks

U.S. President Donald Trump on Sunday met with North Korean leader Kim Jong-un in the Demilitarized Zone (DMZ) dividing the two Koreas and agreed to resume working-level nuclear talks "within a few weeks." Trump became the first sitting U.S. president to set foot in the communist state when he briefly crossed the inter-Korean border together with Kim. "We've agreed to have teams set up," Trump said following one-on-one meeting with Kim at the truce village of Panmunjom in the DMZ.

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KBS (http://world.kbs.co.kr/english/news/)

S. Korea to Contest Japan's Export Restrictions with WTO

In an apparent retaliation against the South Korean Supreme Court's ruling over the forced labor issue, Japan said it will suspend preferential treatment it has given to South Korea regarding exports of materials used to make semiconductors and smartphones. Seoul says it will contest the move with the World Trade Organization.
Japan's Ministry of Economy, Trade and Industry announced on Monday that it will tighten regulations for exports of semiconductor and display materials to South Korea. The move is part of Tokyo's apparent retaliation for the South Korean Supreme Court's ruling that ordered Japanese firms to compensate Korean victims of wartime forced labor.

Probe Team Tentatively Concludes No Cover-up Attempts Made on N. Korean Boat Incident

A probe team that had looked into the entry of a North Korean boat deep into South Korean waters has not found any evidence that the presidential office and the military sought to cover up or fabricate certain details of the incident.
According to government officials on Monday, the probe team, comprising of some 30 Defense Ministry officials and military experts, made the assessment in a report they are finishing up ahead of announcing probe results.

N. Korea Calls for S. Korea-US Drill Suspension, Threatens Inter-Korean Relations

North Korea has demanded that South Korea immediately suspend its joint military exercises with the United States. The North’s official Korean Central News Agency(KCNA) relayed the stance on Friday, warning if the South Korean authorities continuously join the U.S. in what it calls “reckless military provocation” against the North, it will lose a precious opportunity to improve inter-Korean relations. The outlet particularly took issue with “19-2 Dong Maeng,” a new combined command post exercise set for August that will replace the Ulchi Freedom Guardian drills.

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Yonhap (http://english.yonhapnews.co.kr)

S. Korea to file WTO complaint over Japan's export curbs: minister

U.S., N.K. negotiators to face off in few weeks with renewed vigor

The United States and North Korea are poised to face off in working-level nuclear talks as early as this month on the back of their leaders' renewed political will, though a breakthrough seems far from guaranteed. After his unprecedented meeting with North Korean leader Kim Jong-un at the Demilitarized Zone (DMZ) on Sunday, U.S. President Donald Trump said that the two sides will resume the talks "within a few weeks" to see "whether or not they can do something." Secretary of State Mike Pompeo said that the talks are expected to occur in mid-July. Special Representative for North Korea Stephen Biegun will lead the U.S. negotiation team while the North Korean team will consist of foreign ministry officials, he said.

S. Korea's exports down 13.5 pct in June amid U.S.-China trade row

South Korea's exports decreased 13.5 percent in June from a year earlier, extending their on-year fall for the seventh consecutive month, data showed Monday, due mainly to the prolonged trade row between the world's top two economies. Outbound shipments came to US$44.18 billion for June, down from the $51 billion tallied a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy. Monthly exports decreased on-year for the longest period since the 19-month decline posted from January 2015 to July 2016.

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The Korea Herald (http://www.koreaherald.com)

What’s next for S. Korea after Trump-Kim meeting?

With US President Donald Trump and North Korean leader Kim Jong-un agreeing to return to the negotiating table, South Korea’s behind-the-scenes diplomacy is expected to continue to ensure that the nuclear talks get back on track. Breaking a four-month stalemate was a near-impromptu meeting in the truce village of Panmunjom, inside the Demilitarized Zone that separates the two Koreas on Sunday, which came after Trump tweeted an invitation to Kim on Saturday from Japan where he was attending the G-20 summit.

Jungheung Group becomes largest shareholder of Herald Corp.

Jungheung Group, a major South Korean construction conglomerate based in Gwangju, announced Monday that it has become the largest shareholder of Herald Corp., the parent company of The Korea Herald and The Herald Business. As part of its strategy to diversify its construction-focused business, Jungheung completed acquisition of 47.8 percent stake in Herald Corp. late last month, pledging to innovate with the Seoul-based media company through strategic investments. Upon inauguration as the new chairman of Herald Corp., Jungheung chief Jung Chang-sun said he would support the company to take the lead in the quickly evolving media environment inside and outside of the country.

Korean chip industry faces new hurdle from Japan

After seeing signs of tension easing between the United States and China over the weekend, the South Korean semiconductor and display industries now face a new hurdle that could harm their productivity, as Japan announced restrictive measures on its material exports to Korea on Monday amid a diplomatic row. Japan’s Ministry of Economy, Trade and Industry said it will strengthen regulations on the country’s exports of key materials to Korea’s semiconductor and display makers for use in high-tech devices like smartphones and TVs, starting Thursday. The move came amid worsened diplomatic relations between Seoul and Tokyo, and months after the Korean Supreme Court’s ruling on compensation for Japan’s wartime forced labor.

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The Korea Times (http://www.koreatimes.co.kr)

S. Korea to file WTO complaint over Japan's export restriction

The South Korean government said Monday it will file a complaint to the World Trade Organization and diversify import sources as Japan moved to tighten restrictions on exports of key materials used to produce chips and displays. "South Korea has been making efforts to maintain a mutually beneficial relationship with Japan," Industry Minister Sung Yun-mo said, claiming the decision apparently came in response to South Korea's Supreme Court ruling on compensation for wartime forced labor. "The decision goes against common sense, and we express deep regret," he added.

N. Korea media calls DMZ meeting 'amazing'

North Korea's state media described leader Kim Jong Un's meeting with U.S. President Donald Trump on Sunday at the Demilitarized Zone (DMZ) as ''an amazing event'' in the border village it notes is a symbol of the Korean Peninsula's division. The Korean Central News Agency reports that the two leaders expressed great satisfaction over the results of their talks. Also included in the state media report is a description of Kim exchanging ''warm greetings'' with South Korea's president, Moon Jae-in. Trump and Kim agreed to restart negotiations designed to denuclearize the Korean peninsula, a point included in the state media recap of the event.

Clashes as Hong Kong marks China handover anniversary

Police in Hong Kong used pepper spray and batons against anti-government protesters who seized highways early Monday ahead of what is expected to be a huge pro-democracy rally on the anniversary of the city's handover to China. The international financial hub has been shaken by historic demonstrations in the past three weeks, driven by demands for the withdrawal of a bill that would allow extraditions to the Chinese mainland. Tensions spiked once more in the semi-autonomous city on Monday morning after small groups of mainly young, masked protesters seized three key thoroughfares, deploying metal and plastic barriers to block the way.

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Chosun Ilbo (http://english.chosun.com)

Trump Steps into N.Korea, Invites Kim Jong-un to U.S.

U.S. President Donald Trump on Sunday invited North Korean leader Kim Jong-un to the U.S. during an impromptu meeting in the border truce village of Panmunjom in the demilitarized zone on Sunday.

The two met for almost an hour on the border between the two Koreas, and Kim asked Trump to step onto North Korean soil in an echo of a historic gesture during his summit with President Moon Jae-in last year.

"Stepping across that line is a great honor," Trump said. "Great progress has been made, great friendships have been made and this has been, in particular, a great friendship."

Japan to Make Semiconductor Materials Exports Harder
Tokyo said Monday it will tighten restrictions on the export of high-tech material used in semiconductor chips and smartphones in a potential blow to Korean manufacturers. A day earlier the Sankei Shimbun reported that the decision came after Japanese Prime Minister Shinzo Abe found no time to sit down with President Moon Jae-in on the sidelines of the G20 Summit in Osaka. The two countries are at loggerheads over Korean court rulings that Japanese companies must compensate Korean victims of forced labor during World War II.

Beijing Tears Down Samsung, Hyundai Billboards Overnight

Beijing authorities abruptly took down all billboards for Samsung Electronics, Hyundai Motor and Kia Motors on the major thoroughfare of Changan Avenue overnight on Saturday.

The billboards were the Korean conglomerates' property, but they were taken down without notice or offer of compensation.

Chinese President Xi Jinping made a commitment to "a fair, just and non-discriminatory market environment" at the G20 Summit in Osaka over the weekend and asked Washington for "negotiations based on equality and mutual respect." But in reality China often rides roughshod over contracts with foreign companies and shamelessly promotes its own.

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HanKyoReh Shinmun (http://english.hani.co.kr)

The effectiveness of Trump’s top-down diplomacy with North Korea
The unpredictable “celebrity diplomacy” approach of US President Donald Trump has led to Panmunjom summits between the leaders of North Korea and South Korea and to the scene of the North Korean and US leaders crossing the JSA Military Demarcation Line (MDL) within the Demilitarized Zone (DMZ) – the fortified inter-Korean border area where North Korean and US soldiers pointed their gun barrels at each other during the Korean War. Both of these things occurred for the first time since the armistice in 1953. The DMZ, one of the key symbols of a Cold War-era confrontation and conflict that has cast a shadow across both the 20th and 21st centuries on the Korean Peninsula, is now drawing worldwide attention as a setting for top-down diplomacy and the search for a new path forward in denuclearization and the Korean Peninsula peace process.

Trump receives gift of golf jacket at Camp Bonifas before meeting Kim at Panmunjom
Ahead of his surprise meeting with North Korean leader Kim Jong-un in Panmunjom, US President Donald Trump addressed South Korean and US troops at Camp Bonifas in the DMZ on June 30. During his visit to Camp Bonifas, Trump received a gift of a golf jacket, a symbol of the South Korea-US alliance, from the camp’s joint command. While handing Trump the jacket, US Forces Korea Commander Robert Abrams said he hopes the jacket will remind the US president of the South Korea-US alliance every time he plays golf.

More and more S. Korean women don’t view marriage as necessary
South Korean women are increasingly viewing marriage as optional rather than necessary. According to Statistics Korea, 43.5% of women in South Korea view marriage as necessary, as opposed to 52.8% of men. This figure dropped from 47.6% in 2016. Considering 67.9% of women considered marriage necessary in 1998, the figure has dropped more than 24.4 percentage points in 20 years.

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The Dong-A Ilbo (http://english.donga.com/)

Trump, Xi agree to truce in U.S.-China trade war

U.S. President Donald Trump and Chinese President Xi Jinping reached the second truce in which they agreed to resume trade negotiations and hold off on a new round of tariffs after sitting down with each other for 80 minutes at the G20 Summit held in Osaka, Japan on Saturday. “We agreed today that we would continue the negotiations,” said Trump after the bilateral meeting with Xi. “We agreed I would not be putting tariffs on 325 billion U.S. dollars that I would have the ability to put on if I wanted.” According to Trump, China has agreed to buy a "tremendous amount" of agricultural products immediately. "We are going to give them lists of things we want them to buy," Trump said. Back on Dec. 1 last year, the two heads of state had agreed to delay an additional tariff increase and negotiate for 90 days at the G20 summit in Buenos Aires, Argentina.

Illegal protest tents near presidential office removed by authorities

Illegal protest tents that were set up near the presidential office Cheong Wa Dae in Seoul’s Jongno district have been forcefully removed by administrative authorities. “We have forcefully removed nine protest tents, which were installed illegally on the pedestrian sidewalks near the fountain in front of the presidential office for two hours from 9 a.m. in accordance with the administrative ordinance implementation process,” the Jongno-gu ward office said on Sunday. The site had a number of tents installed by several groups such as the National Civil Servants Union, the struggle committee for reinstatement of dismissed workers under the Korean Teachers and Education Workers Union, and an organization seeking the release of former Unified Progressive Party lawmaker Lee Seok-ki.

Deutsche Telekom chairman pledges cooperation with Korean firms

Deutsche Telekom Chairman & CEO Timotheus Hottges (57) took out his tablet PC and showed a photo to reporters. He said he took the photo showing 5G telecom antennas on the rooftop of a building right behind a restaurant in Seoul, which he took during his visit to Korea this time. “In Germany, it could take up to two or three years to construct just one relay station due to civil complaints, regulations and administrative process,” he said. “I was amazed to see so many antennas installed right by a restaurant.”

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The KyungHyang Shinmun (http://english.khan.co.kr/)

President Moon Hopes to Avoid a Situation That Forces Him to "Choose One Country over the Other" in U.S.-China Trade War
On June 27, President Moon Jae-in met with Chinese President Xi Jinping ahead of the G20 summit and said, "I hope the trade dispute between China and the U.S. can be smoothened out," and added, "I hope the situation will not force us to choose one country over the other."

During the forty-minute summit held at the Westin Osaka in Japan this day, President Moon said, "The U.S. and China are both important to South Korea as the top two trading partners," according to a key Cheong Wa Dae official. It appears the president made it clear that we could not side with any one country due to our economic situation when it came to the trade dispute.

President Xi Jinping, the "Messenger" Says, "Kim Jong-un Wants to Resolve the Nuclear Issue Through Dialogue"
On June 27, Chinese President Xi Jinping delivered a message to President Moon Jae-in suggesting that North Korean leader Kim Jong-un "wants to resolve the nuclear issue through dialogue," according to Cheong Wa Dae. The Chinese president visited North Korea on June 20-21 and met with Chairman Kim. It appears the Chinese president has come to the G20 as Kim Jong-un's “messenger.” President Xi, who is currently in Japan to attend the G20 summit in Osaka met with President Moon at the Westin Osaka for a forty-minute summit this afternoon and shared his impression of his meeting with the North Korean leader, according to Cheong Wa Dae spokesperson Ko Min-jung. According to President Xi, Chairman Kim's position can be summarized into four main directions: willingness for denuclearization, hope for the easing of sanctions against North Korea and a guarantee of the safety of the regime, willingness to resume denuclearization talks with the U.S., and plans to maintain inter-Korean dialogue.

President Moon’s Denuclearization Plan, "Complete Shutdown of Yongbyon" Is Worth Considering

On June 26, President Moon Jae-in said, "North Korea and the United States are discussing a third summit," and further said, "The process for peace on the Korean Peninsula will advance to the next level by resumed negotiations between North Korea and the U.S. and now the time is ripe." This day, in a joint written interview with six domestic and international news agencies including the Yonhap News, the president made such a statement and said, "If all of the nuclear facilities in Yongbyon, including the facilities to reprocess plutonium and enrich uranium, are completely dismantled under inspection, then the denuclearization of North Korea can be assessed as irreversible" in connection to the denuclearization negotiations. President Moon said, "If there is actual progress in denuclearization, it could create momentum for inter-Korean economic cooperation, such as resuming operation of the Kaesong Industrial Complex, and the international community can also seek ways to partially or gradually ease UN Security Council sanctions."

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Maeil Business News Korea ( http://www.pulsenews.co.kr/)

Japan’s sanction lifts Korean stocks of component material makers

Tokyo’s announcement to restrict shipments of chip- and display-making materials to South Korea, while triggering disruption concerns among Korean manufacturers, has lifted stocks of Korean material makers on expectations of a shift to local supplies. Shares of Dongjin Semichem Co. surged 17.9 percent to close Monday at 11,850 won ($10.2) and Foosung Co. 9.87 percent to finish at 7,460 won. Dongjin Semichem produces photoresist and other materials for semiconductors while Foosung specializes in hydrogen fluoride, a material used as etching gas when making chips and displays.

Seoul warns of WTO action after Tokyo enters economic retaliation

The Seoul government on Monday warned it could challenge Tokyo’s de facto export sanction on key materials for IT components to Korea in apparent retaliation of Korean court rulings on wartime forced labor at the World Trade Organization (WTO) or through other means according to international and domestic laws. Trade, industry and energy minister Sung Yun-mo condemned the Tokyo action as “highly regrettable” as it goes against WTO agreements and the joint declaration adopted at the G20 Osaka summit the Japanese government hosted on Friday, vowing to uphold “free, fair, non-discriminatory, transparent, predictable and stable trade and investment environment, and to keep markets open.”

Yuhan inks $870 mn out-licensing deal with Boehringer Ingelheim

South Korea’s Yuhan Corporation said in a regulatory filing on Monday that it has signed a deal worth up to $870 million with Germany’s Boehringer Ingelheim over its therapy to treat nonalcoholic steatohepatitis or NASH. NASH is a liver disease characterized by an accumulation of fat along with inflammation and degeneration of hepatocytes, often progressing to liver cancer. There is no available cure of this disease. On Monday, shares of Yuhan closed up 2.86 percent at 251,500 won.

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